Does "Gross Domestic Product" translate to self sufficiency.

 IS MUCH OF WESTERN WEALTH IRRELEVANT?

DO OUR CALCULATIONS REALLY INDICATE STRENGTH

It is interesting that we often hear that the United States has the biggest Gross Domestic Product in the world. In the real flow of dollars this measure may be accurate, but is it really a gauge of sustainability, endurance and the real ability to produce wealth. 

Today the GDP of the United States is estimated at $26.5 Trillion. Manufacturing accounts for 11% or $2.92 Trillion dollars this includes products, mining and agriculture.. The largest segment is Professional and business services at 13%. Real estate rental and leasing at 12%. Government wages etc. 12%, Wholesale and retail trade at 12%, Arts, information and entertainment 10%, Health and social services 9%. Finance and Insurance 8%, Construction 4%. Miscellaneous 10%

Total debt public and private in the U.S. is now $93.5 trillion. $34 Trillion of federal government debt.

China has an estimated GDP  of $25.46 Trillion. Its manufacturing and agriculture accounts for 40.9% or $10.41 Trillion.

Its Government debt is estimated at $9.5 Trillion.

Russia GDP is estimated at $5.5 trillion, Manufacturing  and agriculture is 36.69 % or $2.02 Trillion. Government debt is an eye opening estimate of only $343 Billion.

This is my point, When you strip out all the money that is generated by non-wealth producing activities, we see that the real wealth of these nations is not as far apart as many would like to believe. 

I suspect a similar comparison to western European nations would show similar results. It explains why Russia is able to manufacture military supplies that actually seems to outperform the U.S. and the European production. Much of the financial activity is focused on things that do not support life or create wealth.

Then compare the debt, and if objective, subtract the debt from the GDP and it is startling. 

Real economics has always believed that wealth is created by resources and labor producing things that have more value than the value of the resources and labor. Real wealth creation. 

China is without a doubt far and above everyone in real wealth creation. The United States and Russia are more comparable.  Then consider that China has over 1 billion population, The U.S. 340 million and Russia an estimated 140 million. If we would then compare these figures with population it would be an indication of productivity per person in actual wealth creation.

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